3.2.75-BE E Questionnep You have saved $7,000 toward the purchase of a car costing $12,000. How long will the $7,000 have to be invested at 12% compounded monthly to grow to $12,000? Identify the formula required to solve this problem. U A A P where A is the amount at the end oft years if P is the principal invested at an annual rater compounded continuously A P(1+1)"where and A is the amount at the end of n periods, P is the principal value, ris the annual nominal rate, mis number of compounding periods per year, is rate per compounding period, and n is total number of compounding periods O C. Prt, where is the interest, P is the principal, is the annual simple interest rate, and is the time in years OD A P(1 + rt), where A is the amount, P is the principal, r is the annual simple interest rate, and tis the time in years It will take months for the investment to grow to $12,000. (Round up to the nearest integer.)